Page 1

A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon October Highlights Real estate activity continues to show slight seasonal change, but Metro Portland had a strong month in October. At 2,189, closed sales increased 1.4% from September and 4.1% over last October. This was the best October for closed sales in Metro Portland since 2006, when there were 2,503 closings! Pending sales (2,125) dropped this month by 4.2% compared to September, and also decreased 2.4% when compared to October 2012 (2,177). New listings (2,535) dropped 13.3% compared to September (2,925), but show a 5.0% increase over October 2012. The number of active listings on the market dropped to 7,355. Fewer active listings and healthy closed sales combined to decrease

October 2013 Reporting Period

inventory slightly to 3.4 months. Total market time is currently 76 days.

Year-to-Date Summary There have been 23,955 accepted offers and 22,909 closed sales so far in 2013, up 13.6% from 21,091 pendings and 16.2% from 19,716 closed sales in the same period last year. The 32,452 new listings so far this year represent a 11.0% increase from the 29,246 entered the first ten months of last year.

Average and Median Sale Prices The average sales price so far this year is $310,200, up 13.5% from the same period in 2012, when the average was $273,400. In the same comparison, the median price increased 14.0% from $232,500 last year to $265,000 thus far in 2013.

Inventory in Months* 2011 2012 2013 January 11.3 7.0 4.7 February 10.9 6.5 4.5 March 7.1 5.0 3.2 April 7.2 4.7 3.1 May 6.8 4.2 2.5 June 6.0 3.9 2.9 July 7.0 4.6 2.8 August 6.2 3.9 3.1 September 6.7 4.6 3.7 October 6.8 3.8 3.4 November 6.2 4.2 December 5.3 3.6 *Inventory in Months is calculated by dividing the Active Listings at the end of the month in question by the number of closed sales for that month. This includes proposed and under construction homes.

Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: +12.8% ($306,300 v. $271,500) Median Sale Price % Change: +14.2% ($261,500 v. $229,000)

For further explanation of this measure, see the second footnote on page 2.

2013

Portland Metro Residential Highlights

2012

Pending Sales

Closed Sales

Average Sale Price

Median Sale Price

Total Market Time

October

2,535

2,125

2,189

314,100

270,000

76

September

2,925

2,219

2,158

317,300

275,000

72

32,452

23,955

22,909

310,200

265,000

83

2,414

2,177

2,103

284,600

243,300

102

29,246

21,091

19,716

273,400

232,500

114

5.0%

-2.4%

4.1%

10.4%

11.0%

-26.0%

Prev Mo 2013

-13.3%

-4.2%

1.4%

-1.0%

-1.8%

5.6%

Year-to-date

11.0%

13.6%

16.2%

13.5%

14.0%

-26.9%

Year-to-date

Change

New Listings

October Year-to-date October

© Copyright RMLS™ 2013. All Rights Reserved.


AREA REPORT • 10/2013

Portland Metropolitan Area, Oregon RESIDENTIAL

Year-To-Date

Year-To-Date

13.4%

8

391,500

30

122,900

35

365,700

NE Portland

513

287

100

236

10.8%

231

329,800

50

3,279

2,467

16.3%

2,349

325,500

280,000

13.6%

24

385,500

33

160,700

77

400,700

SE Portland

705

306

118

261

-5.8%

277

272,700

61

3,751

2,803

4.8%

2,702

268,100

235,000

15.2%

24

452,200

53

154,900

151

399,300

144

Gresham/ Troutdale

566

163

70

119

5.3%

125

222,900

95

1,940

1,338

7.5%

1,288

222,300

214,000

11.1%

7

205,600

59

121,000

29

243,100

145

Milwaukie/ Clackamas

605

190

74

171

-11.9%

163

280,900

117

2,605

1,931

14.9%

1,826

279,300

260,000

11.0%

6

426,000

106

163,800

22

360,500

146

Oregon City/ Canby

504

155

80

117

-1.7%

113

293,400

82

1,793

1,249

22.6%

1,204

271,400

252,000

12.5%

9

272,200

99

146,300

18

340,800

Lake Oswego/ West Linn

489

137

83

132

10.0%

117

438,400

79

2,041

1,384

12.9%

1,320

482,500

423,000

12.3%

-

33

328,500

4

434,700

W Portland

805

294

134

247

13.3%

259

485,600

78

3,860

2,760

18.9%

2,614

444,100

375,300

10.1%

16

464,600

66

205,400

27

481,000

NW Wash Co.

298

116

43

99

-6.6%

103

369,900

58

1,574

1,198

8.7%

1,177

395,700

373,500

9.7%

2

943,100

32

301,400

7

318,200

Beaverton/ Aloha

497

211

69

182

0.6%

182

264,700

48

2,711

2,107

12.0%

2,006

259,100

238,100

17.6%

4

139,300

22

282,700

29

325,300

Tigard/ Wilsonville

594

202

79

175

-19.0%

193

304,300

63

2,821

2,230

19.4%

2,143

314,900

292,000

10.8%

5

1,230,600

47

248,300

19

261,000

Hillsboro/ Forest Grove

488

168

53

158

-3.7%

153

249,800

84

2,146

1,714

11.8%

1,655

245,000

229,900

14.0%

14

449,600

51

189,500

37

256,800

Mt. Hood

123

13

24

12

-40.0%

19

258,400

249

242

133

3.9%

124

230,900

210,500

13.5%

-

6

130,300

1

205,000

Columbia Co.

305

55

26

42

-4.5%

45

194,900

209

778

533

13.2%

507

187,800

171,000

14.3%

12

193,400

35

83,400

8

179,400

582 7,355

115 2,535

74 1,083

77 2,125

-17.2% 10.1%

84 2,189

246,400 314,100

96 76

1,524 32,452

1,055 23,955

19.6% 3.6%

990 22,909

243,300 310,200

206,000 265,000

16.6% 12.8%

12 143

350,900

103 775

140,000 175,400

17 481

259,000 357,500

141 142 143 148 149 153

-

Average Sale Price

249,600

Closed Sales

264,900

-

Average Sale Price

Median Sale Price

1,004

Closed Sales

Average Sale Price

12.5%

155

Average Sale Price

Closed Sales

1,053

Closed Sales

Pending Sales

1,387

147

Avg. Sale Price % Change

2

1

Pending Sales 2013 v. 2012

New Listings

43

150

3

274,300

Total Market Time

125

156

Average Sale Price

-2.0%

Closed Sales

97

Pending Sales

56

New Listings

123

Active Listings

281

151

Pending Sales 2013 v. 2012

Year-To-Date

152

Expired/Canceled Listings

MULTIFAMILY

N Portland

Yamhill Co. Grand Total

1

LAND

Year-To-Date

1

Current Month

COMMERCIAL

Percent change in number of pending sales this year compared to last year. The Current Month section compares October 2013 with October 2012. The Year-To-Date section compares 2013 year-to-date statistics through October with 2012 year-to-date statistics through October.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (11/1/12-10/31/13) with 12 months before (11/1/11-10/31/12).

3

Total Market Time is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.

2

© Copyright RMLS™ 2013. All Rights Reserved.


ACTIVE RESIDENTIAL LISTINGS

Active Residential Listings 13,000 12,000 11,000

PORTLAND, OR

10,000

This graph shows the active

9,000

residential listings over the

8,000 7,000

past three calendar years in

6,000

the greater Portland,

5,000 4,000

JAN FEB 2011 11,697 11,746 2012 8,514 8,256 2013 6,366 6,256

Oregon metropolitan area. MAR 11,458 8,391 6,207

TOTAL ACTIVE LISTINGS PORTLAND, OR

This graph shows the total active listings over the past three calendar years in the greater

APR MAY 11,621 11,825 8,523 8,742 6,498 6,818

JUN 11,817 8,799 7,348

JUL 11,970 9,041 7,849

AUG SEP 11,276 10,666 9,014 8,689 8,003 7,903

OCT NOV DEC 10,012 9,451 8,612 7,981 7,216 6,352 7,355

Total Active Listings 17,500 15,000 12,500 10,000

Portland, Oregon

7,500

metropolitan area.

5,000

JAN FEB MAR 2011 14,815 14,869 14,544 2012 11,175 10,939 10,957 2013 8,519 8,435 8,385

APR MAY 14,736 14,973 11,146 11,465 8,673 9,002

JUN 14,921 11,448 9,564

JUL 15,000 11,709 10,138

AUG SEP 14,269 13,579 11,629 11,263 10,293 10,223

OCT NOV DEC 12,852 12,283 11,167 10,542 9,659 8,374 9,573

NEW LISTINGS

New Listings

PORTLAND, OR

This graph shows the

4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0

new residential listings over the past three calendar years in the greater Portland, Oregon metropolitan area.

2011

2012

2013

3

© Copyright RMLS™ 2013. All Rights Reserved.


PENDING LISTINGS Pending Sales

PORTLAND, OR

This graph represents

3,500 3,000

monthly accepted offers

2,500

in the Portland, Oregon

2,000 1,500

metropolitan area over

1,000

the past three calendar

500

years.

0

2011

2012

2013

CLOSED SALES

Closed Sales

PORTLAND, OR

This graph shows the

3,000

closed sales over the past

2,500

five calendar years in the

2,000

greater Portland, Oregon

1,500

metropolitan area.

1,000

2009 2010 2011 2012

500

2013

0

DAYS ON MARKET

Average Total Market Time

PORTLAND, OR

200 180 160 140 120 100 80 60 40 20 0

This graph shows the average market time for sales in the Portland, Oregon metropolitan area over the past three calendar years. 2011 TMT

2012 TMT

2013 TMT

4

© Copyright RMLS™ 2013. All Rights Reserved.


SALE PRICE

This graph represents the average and median sale price for all homes sold in

PORTLAND, OR

the Portland, Oregon metropolitan area.

Average and Median Sale Price $375,000

$355,000 $335,000 $315,000 $295,000

$275,000 $255,000 $235,000 $215,000

$175,000

Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13

$195,000

Average Sale Price

Median Sale Price

Median Sale Price: Portland, OR & Clark Co., WA

MEDIAN SALE PRICE PORTLAND, OR

$300,000 $280,000

$260,000

This graph shows the

$240,000 $220,000

median sale price over

$200,000

the past 12 months in

$180,000 $160,000

the greater Portland,

$140,000

Oregon, metropolitan

$120,000

$100,000

OCT

NOV

DEC

JAN

FEB

MAR APR

Clark County

MAY JUNE JULY AUG SEPT OCT

Metro Portland, OR

5

© Copyright RMLS™ 2013. All Rights Reserved.

area and Clark County.


MEDIAN SALE PRICE October 2013

SW WASHINGTON

$192,000

$232,000

Woodland

N/NE Clark County

$220,800

PORTLAND

$268,000

Battle Ground

Ridgefield/La Center

METRO

$ 175,000 Columbia County $299,500 Salmon Creek $240,500 Felida

$ 373,000 North Washington County Sauvie Island

Brush Prairie Hockinson

$220,000 Hazel Dell Minnehaha

$169,800 5 Corners Orch.

$170,300 Cent. Vancouver

$ 240,000 Beaverton

$ 410,000 West Portland

Aloha

$ 288,400 Tigard/Tualatin Sherwood Wilsonville

$272,300 Camas/Washougal $ 289,000 NE Portland $ 235,000 SE Portland $ 265,000

$ 400,000

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$ 226,500 $ 271,500 Oregon City Canby Molalla Beavercreek

Yamhill County

6

$192,200 Cascade Park

$195,000 Heights

$ 260,000 N Portland

$ 239,000 Hillsboro Forest Grove

$310,000

© Copyright RMLS™ 2013. All Rights Reserved.

$ 219,000 Gresham Troutdale Sandy Corbett Fairview

$ 250,000 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp


MULTIPLE LISTING SERVICE

Corporate 8338 NE Alderwood Rd, Suite 230 Portland, OR 97220 (503) 236-7657 Fax: (503) 230-0689

ACTIVE & CLOSED CONDOS

Lane County: Eugene 2139 Centennial Plaza Eugene, OR 97401 (541) 686-2885 Fax: (541) 484-3854 Lane County: Florence PO Box 414 Florence, OR 97439 (541) 902-2560 Fax: (541) 902-1341 Douglas County 3510 NE Edenbower Roseburg, OR 97470 (541) 673-3571 Fax: (541) 673-6581 Curry County PO Box 6307 Brookings, OR 97415 (541) 469-0219 Fax: (541) 469-9695 Mid-Columbia PO Box 1088 Hood River, OR 97031 (541) 436-2956 Fax: (541) 387-6657 Eastern Oregon PO Box 751 Hermiston, OR 97838 (541) 567-5186 Fax: (541) 289-7320 Coos County 1946 Sherman Ave., Suite 101 North Bend, OR 97459 (541) 751-1070 Fax: (541) 751-1083

condos in the Portland, Oregon, metropolitan area.

PORTLAND, OR

Southwest Washington 1514 Broadway, Suite 101 Vancouver, WA 98663 (360) 696-0718 Fax: (360) 696-9342 Salem 4035 12th Street Cutoff SE, Suite 110 Salem, OR 97302 (503) 587-8810 Fax: (503) 585-3817

This graph shows the number of active and closed

Active & Closed Condos 900 800 700 600 500 400 300

200 100 0

Active Listings

AFFORDABILITY PORTLAND, OR

Closed Sales

This graph shows the affordability for housing in Portland, Oregon in September 2013.

Affordability Index 200

180 160

140 120 100

80 60

40

Market Action Reports are compiled for the following areas: Portland metropolitan area, Southwest Washington, MidColumbia, Columbia Basin, Baker County, Coos County, Curry County, Douglas County, Grant County, Lane County, North Coastal Counties, Polk & Marion Counties, Union County, and Wallowa County. RMLS™ was formed by area Boards and Associations of REALTORS® in 1991. E-mail subscriptions are available for $45 per year by contacting RMLS™, (503) 236-7657. Reproduction of any portion of this copyrighted material is prohibited without prior approval of RMLS™.

0

Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13

20 The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.

AFFORDABILITY - According to a formula from the National Association of Realtors®, buying a house in the Portland metro area is affordable for a family earning the median income. A family earning the median income ($68,300 in 2013, per HUD) can afford 128% of a monthly mortgage payment on a median priced home ($275,000 in September). The formula assumes that the buyer has a 20% down payment and a 30 year fixed rate of 4.49% (per Freddie Mac).

Brian Carlson, Chairman of the Board Kurt von Wasmuth, President/CEO Heather Andrews, Editor © Copyright RMLS™ 2013. All Rights Reserved.

October 2013 Portland Market Action Report  

The Source for Real Estate Statistics in Your Community

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